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AUB reports 12.7% surge in net profit to $528.3m for 9 months

Posted by on 29/10/2018
Filed under Business

AUB reports 12.7% surge in net profit to $528.3m for 9 months

AUB reports 12.7% surge in net profit to $528.3m for 9 months

ROAE rose to 18.4%* Total assets at 30 Sept 2018 increased to $35.5bn KUWAIT: Ahli United Bank B.S.C. (AUB) reported a 12.7 percent increase in net profit attributable to its equity shareholders of $528.3 million for the nine months ended 30 September 2018 compared to the net profit of $468.7 million achieved in YTD Q3/2017. […]

Burgan Bank announces another strong quarter

Posted by on 29/10/2018
Filed under Business

Burgan Bank announces another strong quarter

Burgan Bank announces another strong quarter

Net income reaches KD 71.0 million in 9 months of 2018 with 32% growth YoY KUWAIT: Burgan Bank Group announced yesterday its nine months earnings for the financial year 2018 reporting a net income of KD 71.0 million ($235 million) with a growth of 32 percent year on year while during the third quarter of […]

Zain Group selected by Huawei to offer Huawei Cloud services in Kuwait, MENA

Posted by on 28/10/2018
Filed under Business

Zain Group selected by Huawei to offer Huawei Cloud services in Kuwait, MENA

Zain Group selected by Huawei to offer Huawei Cloud services in Kuwait, MENA

Al-Kharafi: Agreement bolsters Zain’s efforts in playing a key role in ‘New Kuwait 2035’ plan SHANGHAI/KUWAIT: Zain Group, the leading mobile telecom innovator in eight markets across the Middle East and Africa, has been selected by Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, to become a strategic […]

Pakistan’s ‘penniless billionaires’ expose money laundering frenzy

Posted by on 28/10/2018
Filed under Business, Subcontinent, World

Pakistan’s ‘penniless billionaires’ expose money laundering frenzy

Pakistan’s ‘penniless billionaires’ expose money laundering frenzy

KARACHI: It took rickshaw driver Mohammad Rasheed a year to save 300 rupees to buy his daughter a bike, so when he found three billion rupees ($22.5 million) had passed through an unused bank account in his name, he was stunned … and scared. “I started sweating and shivering,” said the 43-year-old — just the […]

Zain launches the all-new iPhone XR

Posted by on 27/10/2018
Filed under Business

Zain launches the all-new iPhone XR

Zain launches the all-new iPhone XR

Company celebrates launch with exclusive offer for youth customers KUWAIT: Zain, the leading digital service provider in Kuwait, launched the all-new iPhone XR during the special event it organized at MAYAR Complex. The event, held on Friday (26 October) from 5-10 pm, witnessed great numbers of crowds from Zain customers. The special event aimed at […]

ASDA’A BCW wins Gold Stevies for work on GEMS, Ford, Arab Youth Survey

Posted by on 27/10/2018
Filed under Business

ASDA’A BCW wins Gold Stevies for work on GEMS, Ford, Arab Youth Survey

ASDA’A BCW wins Gold Stevies for work on GEMS, Ford, Arab Youth Survey

KUWAIT: ASDA’A BCW continues its winning streak at the International Business Awards 2018 – known as ‘the Stevies’. The agency collected a total of 28 awards, with five Gold, 10 Silver and 12 Bronze medals in the PR Category, including a Gold for PR Agency of the Year for the Middle East region, and a […]

ASAR – Al-Ruwayeh & Partners bags IFLR Award for Kuwait for 10th year in a row

Posted by on 27/10/2018
Filed under Business

ASAR – Al-Ruwayeh & Partners bags IFLR Award for Kuwait for 10th year in a row

ASAR – Al-Ruwayeh & Partners bags IFLR Award for Kuwait for 10th year in a row

Recognized for innovation across country’s noteworthy deals KUWAIT: Al-Ruwayeh & Partners (ASAR), Kuwait’s leading and most prominent corporate law firm, and one of the region’s top tier firms, is pleased to announce that it has for a record 10th consecutive year received a national award presented by the International Financial Law Review (IFLR), the world’s […]

Ooredoo reports revenue of KD 502m for nine months ended 30 Sept 2018

Posted by on 27/10/2018
Filed under Business

Ooredoo reports revenue of KD 502m for nine months ended 30 Sept 2018

Ooredoo reports revenue of KD 502m for nine months ended 30 Sept 2018

Customer base up by 2% to reach almost 27 million KUWAIT: National Mobile Telecommunications Company K.S.C.P “Ooredoo” announced yesterday its financial results for the nine months ended 30 September 2018: Financial highlights: * Consolidated customer base increased by 2 percent to reach 26.6 million for the nine months ended 30 September 2018, compared to 26.1 […]

Saudis trumpet $56 bln deals

Posted by on 25/10/2018
Filed under Business, Top Stories

Saudis trumpet $56 bln deals

Saudis trumpet $56 bln deals

US to stay key part of Saudi economy despite boycott RIYADH: Saudi Arabia said it signed $56 billion of deals at an investment conference this week and expected the United States to remain a key business partner despite a partial boycott of the event over the killing of Saudi journalist Jamal Khashoggi. Over two dozen […]

Saudi Aramco ready for IPO

Posted by on 25/10/2018
Filed under Business

Saudi Aramco ready for IPO

Saudi Aramco ready for IPO

RIYADH: Saudi oil giant Aramco is “absolutely ready” for its long-awaited IPO but several regulatory procedures remain, the kingdom’s economy minister told the Future Investment Initiative conference in Riyadh yesterday. After reports that the initial public offering had been scrapped, Crown Prince Mohammed bin Salman said early this month that it will go ahead in […]

Pakistan PM seeks funds as IMF bailout looms

Posted by on 25/10/2018
Filed under Business

Pakistan PM seeks funds as IMF bailout looms

Pakistan PM seeks funds as IMF bailout looms

ISLAMABAD: Pakistan’s Prime Minister Imran Khan will visit China next week, authorities said yesterday, as the former cricketer mounts a desperate search for funds to prop up the nation’s dire finances. The confirmation of Khan’s first visit to China as premier comes days after Pakistan secured $6 billion dollars in funding from Saudi Arabia to […]

Smartphones emerge as bright spot for Indian manufacturing

Posted by on 25/10/2018
Filed under Business, Subcontinent, World

Smartphones emerge as bright spot for Indian manufacturing

Smartphones emerge as bright spot for Indian manufacturing

Modi’s vow to create new jobs stutters on many fronts NOIDA, India: Smartphone-maker Lava is a small player in India’s booming mobile communications industry, but it has become a poster child for Prime Minister Narendra Modi’s ambitious effort to make India a global hub for electronics manufacturing. Just a few years ago, Lava imported cheap […]